Trading platform 3Commas has received $3 million in a Series A funding round led by Alameda Research, according to a press release issued on Nov. 3.
- 3Commas received $3 million in a funding round where the sole participant was Alameda Research, a quantitative trading firm that includes FTX CEO Sam Bankman-Fried as a team member
- The funding will be budgeted towards building new products, international expansion, DeFi integration and the support of new asset classes
- In the near term future, the team will work on new products, including an online academy, and expanding into Asia and South America; it is also testing support for the Forex and equity markets
- 3Commas is a non-custodial crypto-asset management platform that provides traders with strategies and algorithms, and portfolio and risk management solutions, among other features
- The team says states that the platform has grown to over 100,000 users and $12 billion in annual aggregated trading volumes since its launch in 2017
- The platform is attempting to distinguish itself from competitors via its emphasis on high-quality trading bots and algorithms
- Founder Yuriy Sorokin launched the platform with the desire to make cryptocurrency investment easier for retail users, and cited Alameda’s related efforts as a reason for choosing them as an investor